IDBI Bank Current Affairs, GK & News

Exemption for PSUs from Minimum Public Float Rules

The Indian government has announced that public sector entities will be exempt from the Minimum Public Shareholding (MPS) norm. The MPS norm mandates that listed companies must have at least 25% of their shares held by the public. However, this exemption will apply to public sector entities regardless of the government’s direct or indirect holding ..

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FIRSTAP – India’s First Sticker-based Debit Card

IDFC First Bank, in association with the National Payments Corporation of India (NPCI), recently launched FIRSTAP – India’s first sticker-based debit card. What is a sticker-based debit card? A sticker-based debit card allows the user to make transactions by simply tapping the sticker on near-field communication (NFC)-enabled point-of sale terminal. It can be used to ..

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LIC introduces Technology Platform ‘e-PGS’

Life Insurance Corporation (LIC) has launched a centralized web-based workflow-based IT platform called “e-PGS”. Why this platform was launched? LIC launched this platform for its group business operations. Project e-PGS was inaugurated by M R Kumar, Chairman of LIC, at Central Office, Mumbai. First digital receipt generated on new IT platform was received by Rakesh ..

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LIC-owned IDBI Bank removed from PCA framework

The Reserve Bank of India (RBI) has removed IDBI Bank from the Prompt Corrective Action (PCA) framework which is the enhanced regulatory supervision of RBI on March 10, 2021. The bank was removed from the framework after four years as a result of its improved financial performance. Background Central bank had enlisted the IDBI Bank ..

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Finance Minister presents First Supplementary Demand of Grants

The Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman on Thursday, 28 November 2019 sought Parliament’s approval for capital infusion as a part of the first supplementary demand of grants for Rs 21,246.16 crore which will include: 1)About Rs, 8,820 crores will be spent for the newly-formed Union Territories of Ladakh and Jammu and ..

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What is the recently launched Credit linked Capital Subsidy Scheme (CLCSS) for MSMEs?

The Indian Government has decided to extend a special Credit Linked Capital Subsidy Scheme (CLCSS) for Technology Upgradation to the MSMEs. This money is to be utilized for the Technology Upgradation. The Indian Government relaizes that the equipping a business with technology is fiscally draining and this problem is even more severe for the Micro, ..

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